A little bit of chit-chat
Axelar launched a $2.3 million grant challenge looking to fund developers who are building or want to build a Web3 "super app". The program will allocate funds to projects that integrate functions and assets from any chain into a single interface via a single sign-on. The deadline to submit applications is April 27th. The program will have three phases starting with up to 15 grants of $20,000 each, then Phase 2 will fund up to five projects with $200,000, and the final phase will give $500,000 to up to two projects.
This Friday, April 15th, we will host our IRL event Privacy in Cosmos. Live in Amsterdam. We hope to see you all there. If you haven't gotten your tickets yet, you can still join our waiting list. To secure your spot, make sure you fill out the form that will appear after the checkout process.
Killroy Was in Cosmos 🎬
The film "Killroy Was Here" by indie director Kevin Smith is on its way to Secret Network's NFTs platform LegendDAO. The Director and the platform will make available 5,555 private NFTs, which will allow its buyers to watch the entire film plus some bonus content. Secret's technology allows content creators to hide metadata within NFTs that then only the owner can view.
Smith has also said that he may collaborate with the NFT holders who come up with fan-made shorts from the movie to create a sequel or multiple sequels, and he will share profits with those creators. This is the second time a movie director has used Secret Network's private NFT capability to showcase their work. Quentin Tarantino launched an NFT collection with never-before-seen creations from his “mind and pen” in January. "Killroy Was Here" is a horror film inspired by the graffiti meme, featuring a monster that hurts people who hurt children.
Wash trading washed🚿
A controversial proposal raised some concerns about a possible wash trading case on Osmosis. However, hours later, the same proponent, Jacob Gadikian from Notional Validators, changed his stance. According to Proposal 188, almost all the XKI / OSMO pool trading activity was made by a bot or a "tireless human", who transacted once per minute on the same dollar amount. The main reason behind the Proposal was that this behaviour was allegedly trying to trick Osmosis, since it incentivises pools based on trading volume.
Ki Foundation, the organisation behind the $XKI token, tweeted a thread admitting that they were using a robot. However, they intended to gather data on how to identify arbitrage bots that could potentially harm investors in Liquidity Pools in Osmosis. They turned off their two bots just after Jacob Gadikian posted the Proposal. Hours later, Jacob Gadikian tweeted that he was now supporting a No vote on the Proposal. The stance change came after Ki Foundation decided to decline incentive increases generated by their bots' activity. However, as Jacob stated in an interview with Don Cryptonium, he still thinks the case qualifies as "wash trading".
Juno is back 🪐
On April 5th, the Juno chain halted after a malicious smart contract exploited a vulnerability on an old version of CosmWasm. After the event, users lost no funds thanks to the multiple backups of the chain state that the core team made before the issue. An upgrade path was launched and tested on April 6th, making it possible for the team to relaunch the chain on April 7th at 21:00 UTC.
According to Jack Zampolin, they will explain in a post-mortem what happened and the exact actions they took to solve the issue. Zampolin also mentioned that within the upgrade path used to get the chain back to normal, there was CosmWasm's latest security release.
Airdrops List
It is difficult to ignore all the airdrops happening in the Cosmos ecosystem. So here is a list of airdrops for the week.
Wrap Up
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